MCLEAN, Va., July 24, 2014 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq:IRDM) today announced that it is on track to facilitate a new portfolio of broadband subscriber products for aviation, maritime and land mobile markets, expected to be available as early as 2016. On July 21, 2014, Iridium issued a request for proposals (RFP) to more than 30 companies for the design, development, production and distribution of new broadband subscriber products, leveraging the higher data speeds and enhanced capabilities enabled by Iridium NEXT. Iridium will select and contract with an exclusive group of suppliers that have demonstrated engineering expertise and extensive distribution capabilities, and work with them to develop Iridium NEXT-compatible products.
Iridium's second-generation broadband subscriber technology approach is a first for the Company. Iridium is developing a new technology platform to be the cornerstone of a diverse set of new, innovative subscriber products to be manufactured and distributed by industry partners. The product architecture enables unprecedented flexibility in product and antenna form factors and integration with other communication technologies and services by terminal manufacturers. Whether in the air, at sea, or on land, this new class of products will provide fully global broadband connectivity for Iridium's growing customer base.
"The flexibility, faster data speeds and pole-to-pole reach of the Iridium NEXT constellation will enable a variety of new products in each of these key markets," stated Bryan Hartin, executive vice president of sales and marketing, Iridium. "We have experienced tremendous interest from best-in-class companies globally, who will no doubt bring to market game-changing products with greater feature sets, smaller form factors, and lower price points which will become the new benchmark for mobile satellite products."
The Iridium NEXT constellation, which is scheduled to begin launching in 2015, will be core to the future of Iridium® broadband services with a number of new and expanded capabilities. This new service will enable data speeds of up to 1.5 Megabits per second (Mbps), with the expectation that these products and services will be used for commercial, government, and safety communications. Iridium expects that the products to be developed through this process will be compatible with both the current constellation and Iridium NEXT, allowing earlier introduction and adoption by customers.
Proposals will be provided to Iridium in the coming months, and Iridium anticipates that the manufacturing partners will be selected by the end of 2014. Initial products are expected to be introduced to the market in 2016, to align with the launch of the second-generation broadband service.
With 66 low-earth orbiting (LEO), cross-linked satellites and multiple in-orbit spares, the Iridium network is the largest commercial satellite constellation in the world and is the only constellation that provides truly global coverage. For more information on Iridium NEXT, go to www.iridium.com.
About Iridium Communications Inc.
Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network — Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
Forward-Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this presentation include statements regarding the RFP process for broadband products; the potential capabilities, features, uses and compatibility of such products; the development of the Iridium NEXT constellation; expected Iridium NEXT deployment and launch schedule; and expected Iridium NEXT functionality and performance. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the development and capabilities of the products in response to the RFP, Iridium NEXT development and functionality, potential delays in Iridium NEXT deployment, and the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-Q for the quarter ended March 31, 2014, filed with the Securities and Exchange Commission ("the SEC") on May 1, 2014, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.